Oyuntsetseg, 40, is married and lives with her husband and two children in Uvurhangai province of Mongolia. They live in a ger, Mongolian nomadic housing tent, on a small plot of land that they have owned for the past eight years.
Her husband works for a construction company and her older daughter helps her with the business while her son attends a local secondary school. Oyuntsetseg began a retail trading business at a local market in 2004. Now she sells used clothing and other items such as glasses and hats at her thriftshop that she rents currently.
She wants to expand her business and increase her profit. She is a hardworking person with initiative who says, "I want to have my own store so that I can save money on rent and will be able to afford my son's future studies". She is requesting a loan of 3,000,000 Mongolian tugrug (MNT) to purchase more used clothing and increase her inventory.
This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.